Ripple’s highly anticipated stablecoin, RLUSD, is now live on global exchanges after securing regulatory approval from the New York Department of Financial Services (NYDFS).
RLUSD Stablecoin is now live, Source: X RLUSD aims to provide users with an easy and fast way to transfer money globally at any time, making cross-border payments simpler and quicker than ever before.
Ripple USD (RLUSD) is a stablecoin pegged to the US dollar, issued on the XRP Ledger and Ethereum blockchains. It is fully backed by a cash reserve and redeemable 1:1 for USD.
$RLUSD also offers seamless on/off ramps, allowing users to convert between cryptocurrency and fiat currencies easily. It is built to ensure that individuals and businesses can access value tied to real-world assets, providing a reliable and efficient option for managing and transferring funds across borders.
Additionally, former Indian Governor Raghuram Rajan will join Ripple’s advisory board to offer strategic guidance to support the stability and growth of RLUSD.
